Latriece Watkins has stepped into her new position as the newly appointed president and CEO of Sam’s Club, the members-only wholesale chain owned by Walmart Inc., marking a full-circle moment for the groundbreaking woman.
Watkins’s connection to Walmart is deeply personal, stemming from her upbringing. She shared on Fast Company’s innovative companies podcast, “I grew up in a town that had a Walmart, and it was where I went to shop, [there], and a couple of grocery stores. I learned to love retail, not knowing that that’s what it was.”
Watkins’s over 20-year career at Walmart began in 1997 as an intern in the real estate division. Over the years, she ascended through various roles, including leading merchandising for categories like snacks, beverages, and beauty, as well as managing store operations, according to Essence.
The Arkansas native’s rise culminated in her appointment as chief merchant in 2023, where she was responsible for selecting approximately $500 billion worth of products sold by the American brand each year.
“My team and I get to choose all the items that customers experience at Walmart. We consider ourselves their personal shoppers. We love to curate an assortment,” she said on the podcast.
Watkins, a Spelman political science graduate and a University of Arkansas School of Law, Fayetteville, law degree holder, has spent decades successfully driving growth in Walmart’s C-suite.
Her notable achievement was expanding Walmart’s customer base by attracting higher-income shoppers, specifically those earning $100,000 or more.
Watkins’ successful merchandising innovations, which significantly boosted revenue and customer engagement, led to her promotion to CEO of Sam’s Club, a major division of Walmart Inc., only three years after she first became the company’s chief merchant.
Watkins described her customer-centric approach to merchandising at Walmart, explaining, “We are focused on the customer. We start our conversations with the customer… with what’s important to them. What are they thinking about? How can we serve them? We do that across a number of things.”
Her past performances provide a clear indication of the changes and direction Sam’s Club is likely to take with her at the helm.
READ ALSO: How this Goldman Sachs executive went from intern to managing director
Innovation, particularly in technology, will undoubtedly be central to her leadership of the wholesale membership club retail division. Watkins is also focused on gaining a larger market share in the industry, competing directly with Costco, the current leader. According to Fast Company, this strategy will likely include continuing to develop Sam’s Club’s private label, which currently generates about a third of its revenue.
She will also face competition from Amazon, especially in e-commerce and convenience.
“We’re an ‘and’ company. We are execution and innovation. We are people-led and tech-powered. We are really focused on quality and value. We want to make sure the access we give is available to anyone who wants to purchase the products that we have,” Watkins said of Walmart Inc.
Watkins’ leadership and influence in the retail sector have garnered widespread acclaim, especially as Black women remain underrepresented at the highest levels of large retail corporations. Her accolades include being featured in Essence Magazine and the Arkansas Black Hall of Fame, as well as earning a spot on Fortune’s “Ones to Watch” list and receiving distinctions such as the inaugural Madam C.J. Walker Award for Excellence in Diversity, Equity, and Inclusion.
